Is it Realistic to Study and Run a Business at the Same Time?

D52DR7 Hispanic girl studying at desk
D52DR7 Hispanic girl studying at desk

Any entrepreneur will tell you that owning and running your own business takes up a lot of time and effort. If you are a business owner who’s considering going back to college, you might be wondering if it’s a realistic idea. Will you have the time to attend lectures and classes? Will you be able to work studying at home around running your business, especially at the end of each semester where you’ll be faced with impending deadlines and finals? There are several reasons that entrepreneurs may wish to return to college; for example, an MBA or similar can help improve your business, whilst studying for programs such as a masters in health informatics can be very useful for entrepreneurs in a health related industry. But, is it doable? Let’s find out.

#1. Studying Online

If the same question was asked just a decade or so ago, then the answer would probably have been a resounding no. For business owners who are constantly on the go and spend a lot of their time managing and running their company, the idea of dividing their time between business and school may have seemed near impossible. However, today, things have definitely changed. Online degree programs, such as online MBA programs, finance programs, or even an online health informatics degree have become more readily available, giving entrepreneurs the extra level of flexibility needed to study from home and on their own terms.

#2. Part-Time Classes

If you’re an entrepreneur who’s considering going back to school but online programs don’t appeal to you, then you may want to consider taking up part-time classes instead. If you feel that you would benefit from the support and motivation of attending a class in person, then studying part time may be the best option that allows you to fit your new academic endeavors around your company commitments. Whilst you will still have set lectures, seminars, and workshops to attend, part-time students are often only required to be on campus just a couple of times a week, which is why they are so ideal for anybody who is working full-time or dealing with other full-time commitments.

#3. Outsourcing Business Tasks

Lastly, another method of making it easier to study for a college degree whilst owning and managing a business is to outsource more of your business tasks. Make a list of everything that you are doing yourself, and decide which ones can be delegated to members of staff or even outsourced to an outside company to free up more time to study. For example, if you are currently managing a team, then you could promote an employee to step in and do this for you either on a full-time or part-time basis so that you can use the hours that they work to get down to studying.

It’s easy to start a business without any formal qualifications, but as time goes on, many entrepreneurs are faced with a need to learn more. Did these tips help? Let us know in the comments.

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